Title
Entwistle Community Development Fund - Terms of Reference
Proposed Motion(s)
That the Governance and Priorities Committee recommend Council approve the Entwistle Community Development Fund - Terms of Reference as presented.
Body
Administration Recommendation(s)
Administration supports the proposed motion.
Purpose
To set guidelines and parameters as to how funding will be disbursed from the Entwistle Community Development Fund.
Summary
Parkland County recently received an estate endowment of $400,000.00. The endowment funds allocated to the County are to be used for infrastructure improvements/projects in the Hamlet of Entwistle. It is proposed to develop a Community Development Fund with the funds saved in infrastructure costs due to the endowment. An amount equal to the endowment would be allocated to Restricted Surplus - Entwistle Community Development.
The purpose of this fund is to enhance and enrich the community of Entwistle by providing funding for community development initiatives that benefit the residents of Entwistle beyond the established service levels of Parkland County. A Terms of Reference (TOR) has been drafted outlining the overall objectives, eligibility and process for distributing these funds. Administration believes that the objectives and eligibility requirements are expansive enough to accommodate a wide variety of initiatives and any level of organization from formalized Not for Profit organizations to adhoc community groups.
Administration will review proposals and make recommendations to Council, who will have final approval.
Strategic Plan/Policy/Legal/Staff Implications (As Required)
Quality of Life - Goal #1 - Parkland County is a diverse and inclusive community that will balance the needs of its people and provide a choice of lifestyles in a harmonious and safe environment.
Financial Impact:
Cost: $400,000.00
Source of Funding:
Other (As Required)